Shanghai inflation rises 2.3% from a year earlier

By Wang Yanlin | May 14, 2014, Wednesday |

Online Edition

SHANGHAI'S Consumer Price Index expanded 2.3 percent from a year earlier in April, down from a 2.5 percent increase in March but higher than the national average of 1.8 percent, the Shanghai Statistics Bureau said today.

The city's inflationary pressure remained stable, leaving room for policy stimulus if the economy continues to weaken, analysts said.

Food costs rose 2.5 percent in April, moderating from the 4.3 percent jump a month earlier and helping inflation slow, the bureau said.

"Shanghai's inflation has been well managed," said Li Maoyu, an analyst at Changjiang Securities Co. "It is stable and leaves plenty of room for policy changes."

In the first four months, Shanghai's consumer prices gained 2.6 percent, lower than the city government's 3.5 percent target for this year.

Earlier data showed Shanghai's economic growth weakened to 7 percent year on year in the first quarter of this year, slowing from 7.6 percent in the previous three months. It compared with China's 7.4 percent growth rate during the January-March period.

Economy

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Shanghai inflation rises 2.3% from a year earlier

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